Tracking a firm global trend and firming trend in the spot market, silver prices surged by Rs 780 to Rs 64,357 per kg in futures trade today as speculators engaged in creating positions.
At the Multi Commodity Exchange, silver for delivery in March surged Rs 780, or 1.23%, to Rs 64,357 per kg, with a business turnover of 452 lots.
December silver jumped up by Rs 752, or 1.22%, to Rs 62,634 per kg, with a business volume of 7,848 lots.
Marketmen said the rise in silver futures prices was mostly in line with a strong global trend.
Speculation that the European Central Bank will announce unlimited purchase of government bonds to defuse the debt crisis, boosted the euro, raising demand for the precious metals.
Globally, silver rose 1.2% to $32.63 an ounce, the highest level since April 4, in Singapore.
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